Human capital process and project management office

New Human Capital Program

To the project manager (VP):

Recently, the office has embarked upon the creation of a new rewards program with the intention of demonstrating the value of human capital to our company by offering additional incentives for high levels of performance. As the manager of talent and localization, I have been given the responsibility of overseeing this particular program. The new program will play a vital role in recruiting new talent as well as retaining our current high-performers. Rewards will encompass both tangible (financial) rewards as well as ways to reward people with intangible concepts (like being given additional creative leeway on projects).

The program has been designed with the intention of making the company more competitive: recently, the human resources department noted high levels of attrition due to new training and incentive programs amongst our competitors. No company is better than its people and in particular our organization requires top talent to remain productive and innovative. Human capital truly fuels our organization and gives it the justification for its existence.

This new program is an exciting endeavor. However, like all new ventures it will take work. Transforming the organizational culture is the ultimate aim of this new shift, to create a learning organization that truly values its people. But there will likely be change resistance amongst top and middle-level managers who value workers primarily in terms of how cheaply they can be bought, versus what they can give to the organization. People as a whole dislike change when it forces them out of their comfort zones and the new HR strategy for human capital rewards focuses on the value various employees add to the company, versus their places on the organizational hierarchy.

Additionally, as a result of the new program, the standard operating procedures of the company will need to be fundamentally altered. This cannot be done casually. A new employee handbook must be issued. The task of formal revision of company policies in writing will be accomplished by a committee headed by each department, which I will supervise. This must begin posthaste, as it will take an extensive period of time in terms of restructuring incentives, defining recruiting objectives, and putting into writing how the incentive structure will function. At some point, we may wish to consult with current employees for advice in fine-tuning the program, which will take time.